Question 1

An organization with a market orientation

Accepted Answer

A) focuses its efforts on continuously collecting information about the environment, keeping abreast of competitors' actions, and using this information to create product innovation. 
B) identifies prospective buyers, understands them intimately, and develops favorable long-term perceptions of the organization and its offerings so that they will choose it in the marketplace. 
C) strives to satisfy the needs of consumers while also trying to achieve its goals. 
D) satisfies the needs of consumers in a way that provides for society's well-being. 
E) focuses its efforts on continuously collecting information about customers' needs, sharing this information across departments, and using it to create customer value. 
A) focuses its efforts on continuously collecting information about the environment, keeping abreast of competitors' actions, and using this information to create product innovation. 
B) identifies prospective buyers, understands them intimately, and develops favorable long-term perceptions of the organization and its offerings so that they will choose it in the marketplace. 
C) strives to satisfy the needs of consumers while also trying to achieve its goals. 
D) satisfies the needs of consumers in a way that provides for society's well-being. 
E) focuses its efforts on continuously collecting information about customers' needs, sharing this information across departments, and using it to create customer value.

Question 2

Which of the following statements is an example of place utility?

Accepted Answer

A) airlines that allow you to print your own boarding pass at home 
B) a service station that adds a diesel fuel pump to its three unleaded gasoline pumps 
C) a mobile phone company that offers six-month financing, same as cash 
D) cold cut packages that can be zipped close for reuse 
E) an iPhone with a "multi-touch" user interface for easy navigation 
A) airlines that allow you to print your own boarding pass at home 
B) a service station that adds a diesel fuel pump to its three unleaded gasoline pumps 
C) a mobile phone company that offers six-month financing, same as cash 
D) cold cut packages that can be zipped close for reuse 
E) an iPhone with a "multi-touch" user interface for easy navigation

Question 3

The marketing mix elements are called __________ because they are the responsibility of the marketing department in an organization.

Accepted Answer

A) uncontrollable forces 
B) profitability factors 
C) stakeholder value generators 
D) target market segments 
E) controllable factors 
A) uncontrollable forces 
B) profitability factors 
C) stakeholder value generators 
D) target market segments 
E) controllable factors

Question 4

A college student is taking a full course load, working 20 hours per week, and still has to take out a student loan to cover tuition. One day, he sees a classmate driving a new Lexus LFA sports coupe (price: $375,000) and feels he just has to have one for himself. What factor is most likely to prevent a successful marketing exchange between the student and the local Lexus dealer located in an affluent suburb about 20 miles from his university?

Accepted Answer

A) The local Lexus dealer only has one Lexus LFA sports coupe in stock-red, which is the color he wants. 
B) The student does not have the resources to qualify for a $375,000 auto loan. 
C) Although the Lexus LFA sports coupe is a great car, there may be other cars with better gas mileage and resale value. 
D) He's afraid that if someone at school sees him with the car, he might lose his student loan. 
E) His girlfriend wants him to drive a Kia Soul. 
A) The local Lexus dealer only has one Lexus LFA sports coupe in stock-red, which is the color he wants. 
B) The student does not have the resources to qualify for a $375,000 auto loan. 
C) Although the Lexus LFA sports coupe is a great car, there may be other cars with better gas mileage and resale value. 
D) He's afraid that if someone at school sees him with the car, he might lose his student loan. 
E) His girlfriend wants him to drive a Kia Soul.

Question 5

The linking of the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit is referred to as

Accepted Answer

A) relationship marketing. 
B) exclusive dealing. 
C) loyalty marketing. 
D) customer relationship management. 
E) symbiotic marketing. 
A) relationship marketing. 
B) exclusive dealing. 
C) loyalty marketing. 
D) customer relationship management. 
E) symbiotic marketing.

Question 6

A local candidate running for office would very much like to have your vote. She promises that she will "make the country better." Because all candidates for public office say this, you doubt you'll see real results and decide not to vote for her. Marketing will not occur in this situation because

Accepted Answer

A) marketing doesn't apply to the voting process. 
B) the desire and ability to satisfy needs is missing. 
C) there is no direct way for the parties to communicate. 
D) something to exchange is missing. 
E) there is only one party involved in this situation. 
A) marketing doesn't apply to the voting process. 
B) the desire and ability to satisfy needs is missing. 
C) there is no direct way for the parties to communicate. 
D) something to exchange is missing. 
E) there is only one party involved in this situation.

Question 7

A local university offers business courses for a target market of people who currently work and want to take refresher courses for certification in their business field (marketing, accounting, etc.). Which of the following would be the most effective way to communicate with the target market, bearing in mind that communication must be both effective and economical?

Accepted Answer

A) Put announcements on campus bulletin boards. 
B) Distribute promotional materials during classes. 
C) Advertise on national television. 
D) Advertise on local hip-hop radio shows. 
E) Advertise in the local newspaper. 
A) Put announcements on campus bulletin boards. 
B) Distribute promotional materials during classes. 
C) Advertise on national television. 
D) Advertise on local hip-hop radio shows. 
E) Advertise in the local newspaper.

Question 8

The societal marketing concept

Accepted Answer

A) is the moral principles and values that govern the actions and decisions of an organization. 
B) is the idea that organizations are part of a larger society and are accountable to that society for their actions. 
C) actively tries to understand customer needs and satisfy them while satisfying the firm's goals. 
D) involves conducting business in a way that protects the natural environment while making economic progress. 
E) is the view that an organization should satisfy the needs of consumers in a way that provides for society's well-being. 
A) is the moral principles and values that govern the actions and decisions of an organization. 
B) is the idea that organizations are part of a larger society and are accountable to that society for their actions. 
C) actively tries to understand customer needs and satisfy them while satisfying the firm's goals. 
D) involves conducting business in a way that protects the natural environment while making economic progress. 
E) is the view that an organization should satisfy the needs of consumers in a way that provides for society's well-being.

Question 9

Describe the marketing mix actions mentioned in the textbook that Chobani has taken since its founding in 2005.

Accepted Answer

Product actions. (1) In 2005, Turkish im

Question 10

Explain what is meant by the concept of marketing utility. Identify and describe the four utilities created by marketing.

Accepted Answer

Marketing creates utility, the benefits

Question 11

Which of the following is an example of time utility?

Accepted Answer

A) an iPhone with a "multi-touch" user interface for easy navigation 
B) Goodwill's 24-hour drop-off box for clothing donations 
C) a dry cleaner located inside a supermarket 
D) a mobile phone company that offers six-month financing, same as cash 
E) a new herbal supplement that offers a 30-day free trial 
A) an iPhone with a "multi-touch" user interface for easy navigation 
B) Goodwill's 24-hour drop-off box for clothing donations 
C) a dry cleaner located inside a supermarket 
D) a mobile phone company that offers six-month financing, same as cash 
E) a new herbal supplement that offers a 30-day free trial

Question 12

Four factors are required for marketing to occur: (1) two or more parties (individuals or organizations) with unsatisfied needs; (2) a desire and ability on their part to be satisfied; (3) __________; and (4) something to exchange.

Accepted Answer

A) a way for the parties to communicate 
B) a healthy competitive environment 
C) an affordable and actionable advertising campaign 
D) a sense of social responsibility 
E) an ability to see hidden potential within an environmental force 
A) a way for the parties to communicate 
B) a healthy competitive environment 
C) an affordable and actionable advertising campaign 
D) a sense of social responsibility 
E) an ability to see hidden potential within an environmental force

Question 13

In U.S. business history, the marketing concept became a motivating force during

Accepted Answer

A) the early years of the Civil War. 
B) the 1920s. 
C) the 1950s. 
D) the mid-1980s. 
E) the first few years of the 21st century. 
A) the early years of the Civil War. 
B) the 1920s. 
C) the 1950s. 
D) the mid-1980s. 
E) the first few years of the 21st century.

Question 14

The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large is referred to as

Accepted Answer

A) manufacturing. 
B) advertising. 
C) marketing. 
D) selling. 
E) promotion. 
A) manufacturing. 
B) advertising. 
C) marketing. 
D) selling. 
E) promotion.

Question 15

Domino's Pizza has addressed the first objective in marketing, which is to discover consumers'

Accepted Answer

A) diversity of opinion to create advertising messages. 
B) income to determine the most lucrative price point for a product. 
C) lifetime value of an offering to the organization. 
D) characteristics that would be useful to segment markets. 
E) needs, to create products that could satisfy them. 
A) diversity of opinion to create advertising messages. 
B) income to determine the most lucrative price point for a product. 
C) lifetime value of an offering to the organization. 
D) characteristics that would be useful to segment markets. 
E) needs, to create products that could satisfy them.

Question 16

Organizational buyers are described as

Accepted Answer

A) only companies that purchase raw materials and natural resources for manufacturing. 
B) employees who purchase household items for their personal use. 
C) any individual or group making a purchase worth over $100,000. 
D) manufacturers, retailers, or government agencies that buy products for their own use or for resale. 
E) any organization that uses products purchased or meant for a household. 
A) only companies that purchase raw materials and natural resources for manufacturing. 
B) employees who purchase household items for their personal use. 
C) any individual or group making a purchase worth over $100,000. 
D) manufacturers, retailers, or government agencies that buy products for their own use or for resale. 
E) any organization that uses products purchased or meant for a household.

Question 17

Which of the following people would most likely be the best target market for tickets to the home games of the Indianapolis Colts professional football team?

Accepted Answer

A) all people with an interest in professional football 
B) all people in the Midwest who have an interest in sports 
C) all men who played on a varsity football team in high school 
D) all people in the Indianapolis and surrounding areas interested in football 
E) all people in Indiana who watch football on TV 
A) all people with an interest in professional football 
B) all people in the Midwest who have an interest in sports 
C) all men who played on a varsity football team in high school 
D) all people in the Indianapolis and surrounding areas interested in football 
E) all people in Indiana who watch football on TV

Question 18

What is the abridged American Marketing Association definition of marketing according to the textbook? How does this differ from your previous notion of marketing before beginning this course?

Accepted Answer

The American Marketing Association defin

Question 19

In marketing, each __________ consists of people who are relatively similar to each other in terms of their consumption behavior.

Accepted Answer

A) market segment 
B) demographic cluster 
C) organizational buyer group 
D) ultimate consumer group 
E) qualified prospect group 
A) market segment 
B) demographic cluster 
C) organizational buyer group 
D) ultimate consumer group 
E) qualified prospect group

Question 20

An inventor designs a scissors that has interchangeable blades that allow the user to switch from straight cuts to decorative cuts. Identify two possible target markets and explain your answer.

Accepted Answer

A target market is a specific group of p

Exam 1: Creating Customer Relationships and Value Through Marketing

An organization with a market orientation

Which of the following statements is an example of place utility?

The marketing mix elements are called __________ because they are the responsibility of the marketing department in an organization.

The linking of the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit is referred to as

A local candidate running for office would very much like to have your vote. She promises that she will "make the country better." Because all candidates for public office say this, you doubt you'll see real results and decide not to vote for her. Marketing will not occur in this situation because

The societal marketing concept

Describe the marketing mix actions mentioned in the textbook that Chobani has taken since its founding in 2005.

Explain what is meant by the concept of marketing utility. Identify and describe the four utilities created by marketing.

Which of the following is an example of time utility?

Four factors are required for marketing to occur: (1) two or more parties (individuals or organizations) with unsatisfied needs; (2) a desire and ability on their part to be satisfied; (3) __________; and (4) something to exchange.

In U.S. business history, the marketing concept became a motivating force during

The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large is referred to as

Domino's Pizza has addressed the first objective in marketing, which is to discover consumers'

Organizational buyers are described as

Which of the following people would most likely be the best target market for tickets to the home games of the Indianapolis Colts professional football team?

What is the abridged American Marketing Association definition of marketing according to the textbook? How does this differ from your previous notion of marketing before beginning this course?

In marketing, each __________ consists of people who are relatively similar to each other in terms of their consumption behavior.

An inventor designs a scissors that has interchangeable blades that allow the user to switch from straight cuts to decorative cuts. Identify two possible target markets and explain your answer.

Developing Successful Organizational and Marketing Strategies

Scanning the Marketing Environment

Ethical and Social Responsibility for Sustainable Marketing

Understanding Consumer Behavior

Understanding Organizations As Customers

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Market Segmentation Targeting and Positioning

Developing New Products and Services

Managing Successful Products Services and Brands

Services Marketing

Building the Price Foundation

Arriving at the Final Price

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising Sales Promotion and Public Relations

Using Social Media and Mobile Marketing to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Pulling It All Together: the Strategic Marketing Process

Financial Aspects of Marketing

Building an Effective Marketing Plan

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